Category: Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers

““I think we need to teach kids two things: 1) how to lead, and 2) how to solve interesting problems. Because the fact is, there are plenty of countries on Earth where there are people who are willing to be obedient and work harder for less money than us. So we cannot out-obedience the competition. Therefore, we have to out-lead or out-solve the other people. . . .”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
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““What could possibly be more important than your kid? Please don’t play the busy card. If you spend 2 hours a day without an electronic device, looking your kid in the eye, talking to them and solving interesting problems, you will raise a different kid than someone who doesn’t do that. That’s one of the reasons why I cook dinner every night. Because what a wonderful, semi-distracted environment in which the kid can tell you the truth. For you to have low-stakes but superimportant conversations with someone who’s important to you.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
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“I like to study what Seth doesn’t do as much as what he does. Seth has no comments on his blog, he doesn’t pay attention to analytics, and he doesn’t use Twitter or Facebook (except to rebroadcast his daily blog posts, which is automated). In a world of tool obsession and FOMO (fear of missing out) on the next social platform, Seth doesn’t appear to care. He simply focuses on putting out good and short daily posts, he ignores the rest, and he continues to thrive. There are no real rules, so make rules that work for you.”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/9tmMiom

“In Money: Master the Game, Ray Dalio elaborated for Tony: “When people think they’ve got a balanced portfolio, stocks are three times more volatile than bonds. So when you’re 50/ 50, you’re really 90/ 10. You really are massively at risk, and that’s why when the markets go down, you get eaten alive. . . . Whatever asset class you invest in, I promise you, in your lifetime, it will drop no less than 50% and more likely 70% at some point. That is why you absolutely must diversify.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/dGJJZAv

“Asymmetrical risks and rewards: “Every single one of them is obsessed with asymmetrical risk and reward. . . . It simply means they’re looking to use the least amount of risk to get the max amount of upside, and that’s what they live for. . . . [They don’t believe they] have to take huge risks for huge rewards. Say, ‘How do I get no risk and get huge rewards?’ and because you ask a question continuously and you believe [there’s an] answer, you get it.” TF: Here’s a wild example. Kyle Bass at one point”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/4eQW1qN

“In Losing My Virginity, which had a huge impact on me around college graduation, he described his very first flight: “We were trying to catch a flight to Puerto Rico, but the local Puerto Rican scheduled flight was canceled. The airport terminal was full of stranded passengers. I made a few calls to charter companies, and agreed to charter a plane for $ 2,000 to Puerto Rico. I divided the price by the number of seats, borrowed a blackboard, and wrote virgin airways: $ 39 single flight to puerto rico. I walked around the airport terminal and soon filled every seat on the charter plane. As we landed in Puerto Rico, a passenger turned to me and said: ‘Virgin Airways isn’t too bad—smarten up the service a little and you could be in business.’””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/fhazkWb

“As Tony recounted, Buffett told him, “Investing in yourself is the most important investment you’ll ever make in your life. . . . There’s no financial investment that’ll ever match it, because if you develop more skill, more ability, more insight, more capacity, that’s what’s going to really provide economic freedom. . . . It’s those skill sets that really make that happen.” This echoes what Jim Rohn famously said, “If you let your learning lead to knowledge, you become a fool. If you let your learning lead to action, you become wealthy.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/8QRG3sk

“Matt is one of the people I most try to emulate. He is exceptionally calm and logical under pressure. I’ve seen him face multiple data-center collapses with near-indifference, calmly sipping beer before another billiards shot. What should I tell a hugely influential journalist asking about it? “Tell him we’re on it.” Then he sunk another ball. He’s the epitome of “getting upset won’t help things.” I frequently ask myself “What would Matt do?” or “What would Matt say to me?””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/aFJqExC

“TO BE CLEAR: Block out at 2 to 3 HOURS to focus on ONE of them for today. This is ONE BLOCK OF TIME. Cobbling together 10 minutes here and there to add up to 120 minutes does not work. No phone calls or social media allowed.”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/4LZer0v